Revival of real estate sector is top priority of the government: Ravi Shankar Prasad
These additional incentives, he said, will help the government and real estate developers provide homes to all by 2022.
Aug 20, 2016
Source : ET
Ravi Shankar Prasad, minister of Law & Justice, Electronics & Information Technology.

 

NEW DELHI: The government is willing to provide more incentives for the well-being of the real estate and construction sectors but it has to become more proactive and sensitive towards constructing low-cost housing with high quality for intended beneficiaries, said Ravi Shankar Prasad, minister of Law & Justice, Electronics & Information Technology. 

These additional incentives, he said, will help the government and real estate developers provide homes to all by 2022. 

Prasad said that the government wanted builders to have a definitive agenda for the development of their projects which would restore their credibility as well as bridge the ongoing trust deficit that home buyers have. 

"90 per cent of the developers and builders have good track record but there are few that needed to become more responsible and accountable as with this the credibility factor would further cement and the trust of consumers in their projects is restored," he said. 

"The government has completely reformed and modified the real estate and construction sector from many point of view in terms of policy perspective including liberalized the FDI regime for it. However, in case, the developers feel that some more corrective measures are needed to be put in place, the government will be responsive with one single factor that it want them to be executing their projects within a definite time frame," he pointed out at a real estate conference organized by industry body NAREDCO.

 

Amitabh Kant, CEO of NITI Aayog said declared that the Aayog was coming out with a new policy package for the real estate and construction sector so that the housing project of the Prime Minister is accomplished and demand and economic activities are accelerated in cement, steel and other related sector as with increasing urbanization, India would be rebuilt with more focus on its urban planning. 
 

He pointed out that so far the focus of policy makers in India has been more on rural upliftment though urban planning has not yielded it the desired results nor the transformation of rural sector happened. "Therefore, the need of hour is to plan the urban India for its complete catapult as also creation of jobs," he added. 

Minister of Railways, Suresh Prabhakar Prabhu, speaking through video conferencing asked builders to come forward and participate in re-building close to 400 railway stations across the country to cater to the emerging requirement of modern times. 
 

Latest Realty News

'Over-2-lakh-houses-built-under-central-schemes-in-2-years'-
Aug 11, 2016
NEW DELHI: The minister of state for housing and urban poverty alleviation Rao Inderjit Singh told Lok Sabha on Wednesday that 2.24 lakh homes have been constructed for urban poor under the old and new housing programmes during the last two years.
Amaravathi-has-the-potential-to-become-a-world-class-city:-Knight-Frank-
Aug 09, 2016
Hyderabad, August 04, 2016: Knight Frank India, the leading global property consultants today released an exhaustive report on the two upcoming state capitals--Amaravathi & Naya Raipur.
Under-construction-flat-to-cost-more-after-GST-Bill-is-rolled-out
Aug 05, 2016
NEW DELHI: Prices of underconstruction apartments may rise by up to 5-10% when the Goods and Services Tax (GST) is rolled out. But, prices of completed apartments will not be affected as GST will not be applicable there.
GST-To-Benefit-Realty-Sector,-Lower-Tax-Burden:-Developers
Aug 04, 2016
New Delhi: Implementation of the Goods and Services Tax (GST) law will have a positive impact on the real estate sector with expected reduction in its tax burden, according to property developers and consultants.
Record-1.35-lakh-buyers-sign-up-for-972-MHADA-Homes-
Aug 02, 2016
MUMBAI: The Maharashtra Housing and Area Development Authority (MHADA) has received over 1.35 lakh applications for its 972 houses being sold through a lottery. The overwhelming response only reiterates the pent-up demand for affordable housing in India's commercial capital.
Affordable-home-loans-to-witness-strong-growth:-Moody's-
Jul 26, 2016
The underwriting practices of lenders are vital to controlling credit risk in India's affordable housing loans segment, which is set to grow strongly over the next few years as the government tries to increase home ownership among underprivileged groups, says Moody's Investors Service.
Home-buyers-left-in-lurch!-50,000-Noida-Extension-flats-ready-but-not-the-roads-
Jul 23, 2016
NOIDA: Possession of 50,000 flats is slated for this year-end in Noida Extension but lack of infrastructure and amenities like streetlights, roads, security, water connections and power supply is set to delay the handover.
Over-40%-Allottees-Returned-DDA-Flats:-Government
Jul 22, 2016
New Delhi: Over 40 per cent of the houses allotted by the DDA under its Housing Scheme 2014 have been surrendered or cancelled with some allottees complaining about the size of the flats and locality, the government on Thursday said.
Supreme-Court-Asks-Supertech-To-Deposit-Rs-5-Crore
Jul 20, 2016
New Delhi: The Supreme Court on Tuesday directed estate major Supertech to deposit Rs five crore in its Registry as part of a refund to homebuyers for a project. The Allahabad High Court had in the project ordered demolition of twin towers of Emerald Court in Noida, adjacent to the national capital.
Property-cards-to-be-mandatory
Jul 19, 2016
Gandhinagar: The Gujarat government plans to make property cards compulsory for some 1.25 crore properties in urban areas - the state's eight municipal corporations and all its municipalities. Right now, less than 20% of property-holders have a property card as the Record of Right (RoR), the key document to ascertain ownership title for the property.

Latest Realty News Of State

Realty Talk's